Cadent, a NYC-based independent solutions provider for converged TV advertising, is set to acquire AdTheorent (Nasdaq: ADTH), a NYC-based machine learning pioneer and programmatic advertising leader, for approx. $324M or $3.21 per share.

The all-cash transaction is subject to regulatory review and AdTheorent shareholder approval. Cadent aims to leverage AdTheorent's machine learning capabilities to enhance its converged TV advertising solutions.

By combining forces, Cadent plans to offer marketers a unified platform for data-driven linear and CTV/OTT ad campaigns with advanced measurement and attribution.